CMP Technology CEO Steve Weitzner strategically demoted

CMP Technology, the Long Island based media company, announced that it's CEO of two years, Steve Weitzner will step down and take on the roll of head of international M&A and business for the company, a clear cut demotion. With CMP's new direction, perhaps Weitzner isn't the man to lead after the recent restructuring. The company is looking for their new man/woman and according to David Levin, Chairman of parent company United Business Media, he/she had better have a passion for technology with an understanding of media business models. Wietzner replaced Gary Marshall who was abruptly replaced over two years ago. He has not been heard from since. Weitzner sent out an email to the troops explaining his move. “When I joined CMP 23 years ago it was still 10 years before the commercialization of the Internet. The only “events” CMP organized were thank you parties for our many loyal print advertisers. In the past two years we have diversified the product mix and made events our single largest line of business through acquisition and organic growth. We've also launched many new online communities and products while simultaneously making our online business profitable. I am going to turn my attention to a part of the CMP growth plan that has recently begun to heat up—our international expansion in India, China, Europe and elsewhere. Our portfolio has changed radically and that offers us many new opportunities to grow overseas. I look forward to watching CMP blossom on the growth platforms we have all worked so hard to establish.” David Levin, if you read this, and we doubt you do, Former CNet CEO Shelby Bonnie may be a good fit for the gig. But he may want to move the company to Manhattan. CMP’s Weitzner Transitions out of CEO Role into New M&A Position [Folio]